North America's two largest hemp producers merge

摘要

In mid-December, Manitoba Harvest, North America's largest retail hemp producer, announced its acquisition of Manitoba-based Hemp Oil Company Ltd. (HOC), North America's largest hemp bulk ingredient provider. Together the companies account for about 65 per cent of the North American market in their fields. Manitoba Harvest paid $42 million for HOC. "We are really excited about this merger," says Shaun Crew, one of the founders of HOC, who will remain president. "Both of our companies were founded at the same time (in 1998) and we have been friendly competitors for years. "This deal will make both of our companies more efficient and move the hemp industry forward." Manitoba Harvest CEO Mike Fata notes that the deal has been in the works for some time. Manitoba Harvest has a customer base of about 7,000 stores for its hemp hearts, bars, oil and protein powders. Last summer, Connecticut-based Compass Diversified Holdings acquired an 87-per-cent share of the Manitoba hemp producer for $132.5 million.